AUSTIN – Texas has the highest level of economic freedom in the United States according to a new study released this month by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank. The report, Economic Freedom of North America 2014, ranks states based on their levels of economic freedom—measured in size of government, taxation, regulation, rule of law, etc.—using data from 2012, the most recent year of available data. This is the tenth edition of the annual report, which measures the extent to which state policies are supportive of economic freedom—the ability of individuals to act in the economic sphere free of undue restrictions. The Texas Public Policy Foundation issued the following statement on Texas’ first-place ranking in economic freedom in the United States:
"Texas dynamic economy is owed to its economic freedom,” said Texas Public Policy Foundation Director of Policy Chuck DeVore. “That Texas is now rated as number one as having America's highest level of economic freedom is a strong confirmation that prosperity and freedom go hand-in-hand."
"Economic freedom is the best path to prosperity. This begins with more opportunity to have a job,” said Texas Public Policy Foundation’s Center for Fiscal Policy Economist Vance Ginn, Ph.D. “Since the last national recession started in December 2007, Texas now employs roughly 1.4 million more people. However, during the same period, the rest of the nation employs about 0.4 million fewer people. Clearly, the report today supports the Texas model’s lead in promoting economic freedom to bring people out of poverty."
The Honorable Chuck DeVore is the Vice President for Policy at the Texas Public Policy Foundation. He served six years in the California Assembly and is the author of “The Texas Model: Prosperity in the Lone Star State and Lessons for America.”
Vance Ginn, Ph.D., an Economist in the Center for Fiscal Policy at the Texas Public Policy Foundation.
The Texas Public Policy Foundation is a non-profit, free-market research institute based in Austin, Texas.